Simpson Manufacturing (NYSE:SSD) Shares Gap Up Following Earnings Beat

Simpson Manufacturing Co., Inc. (NYSE:SSD)’s stock price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $166.88, but opened at $176.41. Simpson Manufacturing shares last traded at $173.03, with a volume of 27,968 shares.

The construction company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.27 by $0.04. Simpson Manufacturing had a return on equity of 18.29% and a net margin of 14.51%.

Simpson Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be paid a $0.28 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.12 annualized dividend and a yield of 0.68%. Simpson Manufacturing’s dividend payout ratio is presently 14.80%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their price objective on shares of Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating for the company in a research note on Tuesday.

Insider Buying and Selling at Simpson Manufacturing

In other news, EVP Roger Dankel sold 250 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $183.06, for a total transaction of $45,765.00. Following the completion of the sale, the executive vice president now owns 23,814 shares in the company, valued at approximately $4,359,390.84. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.42% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Simpson Manufacturing

Several hedge funds have recently made changes to their positions in SSD. GAMMA Investing LLC boosted its stake in shares of Simpson Manufacturing by 93.9% during the third quarter. GAMMA Investing LLC now owns 380 shares of the construction company’s stock worth $73,000 after buying an additional 184 shares during the period. Procyon Advisors LLC boosted its stake in shares of Simpson Manufacturing by 8.7% during the third quarter. Procyon Advisors LLC now owns 2,332 shares of the construction company’s stock worth $446,000 after buying an additional 187 shares during the period. Hunter Perkins Capital Management LLC boosted its stake in shares of Simpson Manufacturing by 5.3% during the third quarter. Hunter Perkins Capital Management LLC now owns 7,425 shares of the construction company’s stock worth $1,420,000 after buying an additional 375 shares during the period. V Square Quantitative Management LLC purchased a new position in Simpson Manufacturing during the third quarter worth about $34,000. Finally, Inspire Advisors LLC purchased a new position in Simpson Manufacturing during the third quarter worth about $215,000. Institutional investors and hedge funds own 93.68% of the company’s stock.

Simpson Manufacturing Stock Down 2.7 %

The stock has a market capitalization of $6.95 billion, a PE ratio of 21.76 and a beta of 1.35. The firm’s fifty day moving average is $169.56 and its 200-day moving average is $178.64. The company has a quick ratio of 1.99, a current ratio of 3.53 and a debt-to-equity ratio of 0.24.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.